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00 NonCumulative Perpetual Class A Preferred Stock Series J 7. 5 Non-Cumulative Perpetual Convertible Class A Preferred Stock Series L Warrants to purchase shares of Common Stock expiring October 28 2018 New York Stock Exchange NYSE NYSE See list of additional securities listed on the NYSE on the page directly following this cover page. Dividend Equalization Preferred Shares no par value Indicate by check mark if the registrant is a well-known seasoned issuer as defined in Rule 405 of the S ...

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What was the Wells Fargo reputation scandal?

Wells Fargo admitted to having employees create millions of accounts for its customers between 2002 and 2016. The company pushed its employees into doing that by creating unrealistic sales goals, which it admitted to when it settled with the U.S. government in 2022.

What is Wells Fargo in trouble for?

December 2022The Consumer Financial Protection Bureau ordered Wells Fargo to pay $2 billion in refunds to over 16 million customersas well as $1.7 billion in penaltiesfor charging illegal fees and interest on auto and mortgage loans, incorrectly repossessing customers cars, mismanaging auto and mortgage loan

Can Wells Fargo be trusted?

Wells Fargo, along with thousands of other financial institutions, is FDIC-insured. FDIC insurance limits cap at $250,000. The FDIC insures certificates of deposit and money market accounts, along with traditional checking and savings accounts.

Is Wells Fargo worse than other banks?

Wells Fargo ranks for its large number of complaints with the Consumer Financial Protection Bureau (CFPB) and it has low ratings with Consumer Affairs. It ranks alongside some of the largest banks in the country, including Citibank and Capital One.

What is the problem with Wells Fargo?

The bank has faced controversy outside of its user experience in recent years. Last December, regulators fined Wells Fargo $1.7 billion and ordered it to pay $2 billion to customers for a range of illegal activity.

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